Saturday, April 4, 2009

Fat Cats Try to Spin the Money Tale

According to Indiana Barrister, the Indianapolis Colts are playing "smoke and mirrors" with payments toward their portion of the tab for Lucas Oil Stadium.

"The Indianapolis Colts say they contributed $100 million to building Lucas Oil Stadium," Abdul Hakim-Shabazz writes. "It all depends on how you define 'contribute'."

Read it all here.

Abdul's conclusion? "So the Colts put in $137,000,000, they get back nearly $1.6 billion and they don’t want to contribute $5 million a year ($150,000,000 over 30 years; less than 10 percent of their total revenue stream) and would rather see your taxes go up."

In the opinion of this Indianapolis Observer, the Colts are behaving just about as ethically than the Pacers.

1 comment:

Paul K. Ogden said...

Abdul's analysis was great. But of course even that was based on the phony assumption that the Colts actually contributed $100 million, which they didn't.